Current approaches to regulatory compliance are unsustainable, and it's clear that regulation is showing no signs of slowing down - by 2020 there will be 300 million pages of it in existence.

Firms are managing to keep their head above water by throwing staff and money at the problem. In fact, we at PA estimate that at a typical firm, 15-20 per cent of staff are dedicated to compliance. While across the industry £20 billion is spent on meeting the regulatory burden. Despite this, we?ve found (via our Rethinking Regulators research) that 55 per cent of financial services leaders recognise the way they manage risk and compliance could be better.

We believe the answer to tackling a growing regulatory burden, with fewer staff and less money, is simple - adopt new technologies. As the challenge continues to grow, firms will need to adopt RegTech to more efficiently and effectively achieve compliance. In our webinar we will look at:

  • The current RegTech landscape - the types of firms and technologies currently available, and how you should be thinking about working with them.
  • Bench-marking - how are banks currently using RegTech and the most successful use-cases.  
  • Building the right foundations for success - the importance of data analytics.  
  • Regulatory perspective - based on our work with over 30 European regulators, we?ll share perspectives on how regulators are viewing advances in RegTech adoption.

At PA, we see RegTech as not only a huge opportunity for the industry to reduce the burden of compliance, but also a disruptive force that firms must face to address unsustainable approaches to regulatory compliance.

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